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journalize the above transactions The following transactions were completed by McGill Company durint August. McGill uses the perpetual inventory method Aupust Purchased 53,500 of merchandise
journalize the above transactions The following transactions were completed by McGill Company durint August. McGill uses the perpetual inventory method Aupust Purchased 53,500 of merchandise from Hot Air Inc, on account. In addition, we paid shipping costs of 5230 for a total of 5 $3,730. Terms 3/15, n/30. No discount available on shipping costs. 9 Returned 5700 of merchandise to Hot Air for credit. 12 Sold 51,400 of merchandise to Crazy Parties on account, terms 2/10, 1/30. Our cost was 5800 15 Crazy Parties returned $200 of merchandise from the August 12 purchase. The merchandise was the wrong colour, so is not defective. Our cost was $120. 17 Dalhousie Company purchased 54,000 of merchandise on account terms 2/10, 1/30. Our cost was 52,800. 18 Paid Hot Air the amount owed. (you figure out the amount) 20 Received payment in full from Crazy Parties. (you figure out the amount) 22 Purchased 5900 of supplies on account from Columbia Company. 26 Dalhousie Company returned $700 of merchandise that was damaged during delivery. It cannot be resold. 30 Received payment from Dalhousie Company
journalize the above transactions
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